Mustang Energy Corp. Gains Exploration Permit for Spur Project
Exciting Developments for Mustang Energy Corp.
Mustang Energy Corp. (CSE: MEC, OTC: MECPF, FRA: 92T) is thrilled to share the news of its recently acquired exploration permits from the Saskatchewan Government. This significant milestone allows for ground-based exploration activities at the Spur Project, located south of the Athabasca Basin. As a company dedicated to resource exploration, Mustang is poised to make great strides in this critical area.
Details of the Exploration Permit
The newly issued permits encompass a range of vital authorizations, including Crown Land Work Authorization, Aquatic Habitat Protection Permit, Forest Product Permit, and Temporary Work Camp Permit. These permits empower Mustang to engage in essential mineral exploration tasks. Activities such as trail construction, line-cutting, ground geophysical surveys, and diamond drilling are now on the table, paving the way for promising outcomes in the following years.
Engaging with Local Communities
As Mustang embarks on this exploration journey, community engagement remains a top priority. The Company is committed to working closely with local communities to address any concerns, ensuring that the Project is implemented sustainably. Ongoing consultation and environmental stewardship efforts are in place to mitigate disturbances and to promote reclamation initiatives, signaling a dedication to responsible exploration.
About the Spur Project
The Spur Project consists of ten claims that span an impressive 23,680 hectares, strategically located just south of the renowned Athabasca Basin. This region is globally recognized for its substantial uranium deposits, making it a hotspot for resource exploration. With the Project situated roughly 40 kilometers southeast of Cameco’s Key Lake Mill Operation and 20 kilometers southwest of Skyharbour Resources/Terra Clean Energy’s Fraser Lakes Zone B deposit, the potential for discovery is significant.
Geological Insights and Opportunities
The geological landscape of the Spur Project is composed of Proterozoic basement rocks from the Wollaston Group and various uraniferous pegmatites. These geological features suggest a rich potential for uranium, thorium, and rare earth element exploration. Furthermore, the absence of Athabasca Sandstone cover allows for lower-cost exploration, increasing the viability of operations.
Notably, surrounding properties have shown promising results, with high-grade surface grab samples indicating strong mineralization. For instance, the Pipe Lake Showing, located just 2.5 kilometers northeast of the Project boundary, has yielded samples with up to 8.0% U?O?. Likewise, the Red October Showing exhibits assays of up to 1.93% U, reinforcing the area's potential for significant uranium finds.
Future Outlook for Mustang Energy Corp.
Mustang Energy is not just focused on the Spur Project; the Company is actively developing a portfolio of high-potential uranium and critical mineral assets throughout Northern Saskatchewan. Their overall land holding includes 92,211 hectares surrounding the Athabasca Basin, showcasing their commitment to exploring this prime resource-rich area.
Among their key projects are the Ford Lake project, covering 7,743 hectares in the eastern Athabasca Basin, as well as the Cigar Lake East and Roughrider South projects which encompass 3,442 hectares. Additionally, Mustang aims to strengthen its position in the Cluff Lake region with the Yellowstone Project, covering 21,820 hectares, and expand further into the south-central region with the Dutton Project, at 7,633 hectares.
Conclusion
As Mustang Energy Corp. moves forward with its exploration initiatives and community engagement strategies, expectations are high for what the Spur Project will bring. The ongoing dedication to responsible practices combined with the promising geological landscape creates optimistic prospects for the Company. For inquiries and more information, interested parties can reach out to Mustang Energy Corp.
Contact Information
Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Frequently Asked Questions
What is the Spur Project?
The Spur Project is an exploration initiative by Mustang Energy Corp. located in a region known for its rich uranium deposits.
When did Mustang Energy receive its exploration permits?
The permits were recently acquired, marking a significant step for the Company's exploration activities.
How large is the area covered by the Spur Project?
The Spur Project comprises ten claims spanning 23,680 hectares.
What minerals are being targeted in the exploration?
Mustang Energy is focusing on uranium, thorium, and rare earth elements.
Who can be contacted for more information about Mustang Energy?
For further inquiries, you can contact Nicholas Luksha, CEO and Director, at (604) 838-0184.
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